Home Industry Finance Kuwait wealth fund’s London arm manages $250bn in assets The fund mainly invests directly, predominantly in public equities and fixed income but also in alternatives like real estate and private equity by Bloomberg September 2, 2023 Image courtesy: Gavin Hellier/ Getty Images The London arm of Kuwait Investment Authority (KIA), which manages the country’s sovereign wealth fund, has $250bn of assets under management (AUM), KIA Chairman Saad Al-Barrak said. The Kuwait Investment Office’s AUM grew from $27bn in 2003 to $250bn this year, Al-Barrak, who’s also minister of state for economic affairs and investment, said in London on Tuesday during an event marking the KIO’s 70th anniversary. The KIA does not usually disclose the value of its assets. The Kuwait Investment Board was established in London in 1953, eight years before OPEC-member Kuwait gained independence, to invest surplus oil revenue and help diversify the economy. The board was later replaced by the Kuwait Investment Office, and in 1982 the KIA was set up as its parent entity. The KIA manages the Future Generations Fund, estimated at over $700bn, as well as the General Reserve Fund, or treasury. The KIO mainly invests directly, predominantly in public equities and fixed income but also in alternatives like real estate and private equity. The London office has been a prolific investor and participated in the US listing of private equity firm TPG. Kuwaiti investments in the UK rose to $42bn from $9bn two decades ago, Al-Barrak also said. Read: Kuwait plans new sovereign investment fund to boost growth Tags General Reserve Fund Kuwait Kuwait Investment Authority Kuwait Investment Office 0 Comments You might also like Sheikh Ahmad Abdullah al-Ahmad al-Sabah is Kuwait’s new prime minister Kuwait-Saudi rail link set for completion in 2028 Kuwait announces 5-day Eid al Fitr holiday Kuwait oil company Q8 to buy 50% of Italian biodiesel producer EcoFox